OSAKA, Japan--(BUSINESS WIRE)--Panasonic Corporation (NYSE:PC/TSE:6752, "Panasonic") announced today to accept the European Commission ("Commission") Decision imposing a fine on Panasonic of €7,668,000 on refrigeration compressors that the Commission announced on December 7, 2011.
There shall be no material effect on the financial outlook for the fiscal year ending March 31, 2012 as a result of this payment.
It is the policy of Panasonic to comply with all applicable laws and regulations, including antitrust regulations. The Company takes this matter seriously and will make every effort to maintain the public's confidence.
About Panasonic
Panasonic Corporation is a worldwide leader
in the development and manufacture of electronic products for a wide
range of consumer, business, and industrial needs. Based in Osaka,
Japan, the company recorded consolidated net sales of 8.69 trillion yen
(US$105 billion) for the year ended March 31, 2011. The company's shares
are listed on the Tokyo, Osaka, Nagoya and New York (NYSE:PC) stock
exchanges. For more information on the company and the Panasonic brand,
visit the company's website at http://panasonic.net/